Jualo’s CEO Chaim Fetter announced that his business has just sealed an undisclosed seed funding from Mountain Kejora Ventures and Alpha JWC Ventures. The money will go to the development of HR, product as well as Jualo’s market in Indonesia. A couple of times ago, Jualo also renewed its website to provide better experience to consumers and Jualo users.
Evne though being officially launched last September 2014, Jualo was principally established back in February 2013. So far, The growth it recorded has been considerably positive, and the platform has facilitated more than $100 million-worth transaction and gathered hundred thousands users in the past month.
Jualo’s presence in the midst of competition was not armless. It adopted a business model which can be considered as a combination between classical e-classified and marketplace platform. This results on a unique blend of features, passionate business development, and deep understanding on Indonesian market, thus enabling Jualo to survive. Moreover, Jualo is also considered as the first e-classified that pioneer the utilization of geo-search to search the nearest desired items in Indonesia.
Mountain Kejora Ventures’ Founder Sebastian Togelang said, “We highly trust Jualo. They are really understand how to match e-classified business model with the specific demand of Indonesian consumers. We do believe that Jualo will play the key part in the market segment, and will lead the market in the near future.”
Chandra Tjan of Alpha JWC ventures added, “The marketplace for secondhand items has actually limitless potential. We believe Chaim and Jualo really understand the market and have the right approach to solve the main problems of the market to come out victorious.”
By the funding, Fetter gets more optimistic in facing the competition. He stated, “With hardwork and being obsessed to the business as well as possessing the deep understanding about the Indonesian consumers, we will be the favorite platform of those who do secondhand items trade.”
